A photo illustration of the digital cryptocurrency, Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) is seen on September 13, 2018 in Hong Kong, Hong Kong.
Yu Chun Christopher Wong | S3studio | fake images
Altcoins capped a winning week after a court decision on Thursday spurred a strong and broad rally in the crypto market, while bitcoin posted its third straight week of decline.
Bitcoin it ended the week down less than 1%, according to Coin Metrics, but above $30,000. Coin Metrics measures a week in crypto, which is traded 24 hours a day, from the stock market close at 4:00 p.m. ET from one Friday to the next.
Even with lower-than-expected inflation reported on Wednesday and Thursday, the price of the flagship cryptocurrency was flat for most of the week, and after its 4% rally on Thursday, it still failed to hold the technical level. $31,500 key. On Friday he returned most of those gains.
undulation XRP led the rally after a judge in the Southern District of New York ruled that it is a security in some cases but not others. XRP ended the week with a gain of over 49%. The token tied to Solarium rose around 19% over the week, Cardano's ada has gained 13% and Polygon's matic token finished higher by 10%. Ether rose 2.5%.
XRP rallies, bitcoin ends week unchanged
“For bitcoin, the psychological $30,000 level has been reliable support for its price, but it has also been struggling to prove an undeniably clear breakout over the past few weeks, resulting in a range-bound move,” Yuya Hasegawa said. , crypto market analyst at the Japanese bitcoin exchange Bitbank. "It's a little hard to grasp the fact that the fight is going on."
Most major crypto assets are in the red on Friday as investors reined in the excitement on Thursday and weighed what might come next for cryptocurrencies. While the decision is generally seen as a positive for Ripple and the cryptocurrency industry, it was not a clear victory.
XRP is down almost 15%, while matic and ada are back around 7% each.
The order was the latest development in a three-year battle between Ripple and the Securities and Exchange Commission. There is a possibility that some of these findings could be appealed and reversed; the filing even said that the court would issue a separate order setting a date for trial.
